The Indian government is considering austerity measures to conserve energy, which could include increasing fuel prices and implementing work-from-home mandates.
According to the petroleum ministry, the measures are aimed at reducing energy consumption and alleviating financial pressure on state-run oil marketing companies.
The government has been able to manage the situation so far, despite the global energy supply chain disruptions caused by the closure of the Strait of Hormuz.
However, experts warn that the country's reliance on imported crude oil, which accounts for over 88% of its processed oil, makes it vulnerable to price fluctuations.
The government has already taken steps to reduce excise duty on petrol and diesel, resulting in a loss of ₹14,000 crore per month.
The proposed austerity measures, which include work-from-home for up to 50% of an organisation's employees, are expected to be implemented in the coming days.
